Member Info for Bombdog

NOFEAR all is forgiven. Good to have you back sir.

I don’t think he needed to either, just to say they are looking at all options. He may have a restructuring deal oven-ready but unsigned. Could be playing hard ball with Cineplex, waving it under their noses. Without an out of court settlement and Plex go all the way and win he pulls the trigger and Cineplex (and us shareholders) get next to nothing.

Remove the full stop at the end of the link and it works:
https://dockets.justia.com/docket/california/cacdce/2:2022cv01248/844786

Good stuff guys, thanks for the feedback

Hoping for a good day after the recent battering across many shares recently, good luck all.

https://www.bbc.co.uk/news/live/world-60372815

Thanks Shazabo. The most interesting part of the article for me is the graphic that breaks down how the current $4.6bn debt is divided up. Only $0.5bn is secured to get back 90-100% in the event of bankruptcy. The vast majority would get 40% and $0.5bn has even lower priority which where the Cineplex damages would sit. We as shareholders would get nothing of course but it demonstrates clearly why lenders would be so supportive. My guess is that the lenders have pushed hard for CW to negotiate to spread the payments to Regal shareholders hence the rns yesterday. Hopefully Cineplex will cut a deal soon and put the whole debacle behind us.

By the way everyone if you Google “Cineworld FT” you can read the article without the paywall.

This is the announcement:

https://www.cineworldplc.com/sites/cineworld-plc/files/2022-01/20220127-cineworld-group-update-cineplex-inc-litigation.pdf

In that scenario I would agree

@Wellington99
Do you seriously think Cineworld plc will end up going down the road of a pre-pack administration?

I can’t see a takeover in any form until the Cineplex palaver is resolved

CP knew right from the start that the subsidiary would make the purchase. I just can’t imagine a situation where CP lawyers wouldn’t have seen it coming if it really was CW’s game to potentially use this option when it looks so obvious to me.

Sorry I don’t see this having legs at all. A simple parent company guarantee would be enough to ensure CW would have to meet the obligations of 1232743 BC Ltd. It’s something I do in my business, I can’t see CP lawyers not having something similar in place for such a big deal.

Damages are expected to be reduced on appeal which could take many months. If they settle CP get the money straight away, CW draw a line under it all.

Lovely rise today and to think those clowns thought Boris was closing the cinemas yesterday just because the website was updating the film schedules.

The notion that all U.K. cinema operators could be somehow tipped off by the government that closures are imminent before an official announcement or even a leak to the press is utterly preposterous.

I’ve checked the 5 nearest Cineworld theatres near me and all show different dates available to book from now until April. I’m guessing scheduling is in the process of being updated.

Since the judgement I have been wondering on how the damages could be enforced by the Canadian civil system over a U.K. listed company. Sticking it on the toes of a U.K. court sounds plausible.

Superb find HNS and thanks RS for sharing the additional info

As a paid member for L2 I expect not have to put up with this, I’ve cancelled my subscription.

Boris Johnson is not expected to announce post-Christmas COVID restrictions this week, a senior government source told Sky News.

It comes as new data on the severity of Omicron from the UK Health Security Agency (UKHSQ) is set to be published today.

Two UK recent studies by scientists at Edinburgh University and Imperial College London showed that it appears to be milder than Delta, raising hopes that people infected with Omicron are less likely to be hospitalised.

https://news.sky.com/story/covid-19-key-assessment-of-omicron-set-to-be-published-today-after-first-uk-studies-suggest-its-milder-than-delta-12502519